Diagnostics, Medical device

Biolase have purchased $35 million in private financing

Posted on 06 November 2014

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BIOLASE announced today that investors have agreed to purchase $35 million of unregistered shares of the Company’s common stock and warrants to purchase unregistered shares of the Company’s common stock in a private placement transaction.BIOLASE has agreed to sell an aggregate of 14,162,873 shares of its common stock at the price of $2.39 per share, the closing price quoted on NASDAQ on November 3, 2014.

In addition, the investors will receive warrants to purchase up to an aggregate of 9,205,862 shares of BIOLASE common stock at an exercise price of $4.00 per share.

The warrants become exercisable six months after the closing of the private placement and have a term of three years from the date of issuance.

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